I SEE PLENTY OF UPSIDE!
. Overbought Conditions
RSI Levels: An RSI reading of 75 suggests that SPY may be overbought, potentially leading to a short-term pullback or consolidation.
Market Breadth Concerns
Participation Rates: Only about 41% of stocks are trading above their 200-day moving averages, indicating that the rally may be driven by a limited number of large-cap stocks.
. Overbought Conditions
RSI Levels: An RSI reading of 75 suggests that SPY may be overbought, potentially leading to a short-term pullback or consolidation.
Market Breadth Concerns
Participation Rates: Only about 41% of stocks are trading above their 200-day moving averages, indicating that the rally may be driven by a limited number of large-cap stocks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.